Global ratings agency Fitch has maintained India’s sovereign rating at the lowest investment grade and said the outlook was stable, citing a strong medium term growth outlook and relative external resilience stemming from strong foreign reserve buffers.
Stating that a robust growth outlook continues to support India’s credit profile, the ratings agency expects growth of 6.8% in the fiscal year ending March 2020 (FY20) and 7.1% in 2021, supported by accommodative monetary policy, an easing of bank regulations, and government spending.
“We estimate real GDP growth to have slowed slightly to 6.9% in FY19 from 7.1% a year earlier. Limited available indicators also point to a rise in unemployment,” the rating agency said.
Stating that a robust growth outlook continues to support India’s credit profile, the ratings agency expects growth of 6.8% in the fiscal year ending March 2020 (FY20) and 7.1% in 2021, supported by accommodative monetary policy, an easing of bank regulations, and government spending.
“We estimate real GDP growth to have slowed slightly to 6.9% in FY19 from 7.1% a year earlier. Limited available indicators also point to a rise in unemployment,” the rating agency said.
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